Rent-A-Center Inc. to Post Q3 2016 Earnings of $0.07 Per Share, Northcoast Research Forecasts (RCII)
Rent-A-Center Inc. (NASDAQ:RCII) – Equities researchers at Northcoast Research decreased their Q3 2016 earnings per share estimates for shares of Rent-A-Center in a research note issued to investors on Thursday. Northcoast Research analyst N. Mitchell now expects that the firm will post earnings of $0.07 per share for the quarter, down from their previous estimate of $0.37. Northcoast Research also issued estimates for Rent-A-Center’s Q4 2016 earnings at $0.31 EPS, FY2016 earnings at $1.26 EPS and Q4 2017 earnings at $0.41 EPS.
A number of other equities analysts also recently commented on RCII. Zacks Investment Research downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Jefferies Group started coverage on shares of Rent-A-Center in a research note on Thursday. They set a “hold” rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $20.90.
Rent-A-Center (NASDAQ:RCII) opened at 8.93 on Monday. The company has a 50-day moving average price of $12.16 and a 200 day moving average price of $12.92. Rent-A-Center has a 12-month low of $8.00 and a 12-month high of $26.26. The company’s market cap is $474.33 million.
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Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.08. The firm earned $749.60 million during the quarter, compared to the consensus estimate of $782.12 million. Rent-A-Center had a negative net margin of 27.93% and a positive return on equity of 14.03%. Rent-A-Center’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Monday, October 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.58%. The ex-dividend date is Thursday, September 29th. Rent-A-Center’s payout ratio is currently -1.93%.
In other Rent-A-Center news, CEO Robert Dale Davis bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were purchased at an average cost of $10.87 per share, with a total value of $108,700.00. Following the purchase, the chief executive officer now directly owns 131,850 shares in the company, valued at $1,433,209.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.40% of the company’s stock.
A number of large investors have recently made changes to their positions in RCII. Thompson Siegel & Walmsley LLC increased its stake in shares of Rent-A-Center by 77.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,218,472 shares of the company’s stock valued at $14,963,000 after buying an additional 533,388 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Rent-A-Center by 22.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 14,300 shares of the company’s stock valued at $176,000 after buying an additional 2,588 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Rent-A-Center by 32.7% in the first quarter. BlackRock Fund Advisors now owns 3,318,496 shares of the company’s stock valued at $52,598,000 after buying an additional 817,206 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Rent-A-Center by 87.5% in the first quarter. Renaissance Technologies LLC now owns 808,210 shares of the company’s stock valued at $12,810,000 after buying an additional 377,200 shares during the last quarter. Finally, Hancock Holding Co. acquired a new stake in shares of Rent-A-Center during the first quarter valued at $761,000. 9.58% of the stock is currently owned by hedge funds and other institutional investors.
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico and Franchising.
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